Key Takeaways
- Abu Dhabi’s MGX invested $2 billion in Binance, marking the largest-ever crypto company investment.
- The investment gives MGX a minority stake in Binance to support blockchain technology development.
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Binance announced Wednesday that the company has secured $2 billion from MGX, the Abu Dhabi-based investment firm that backed Trump’s $100 billion AI plan alongside OpenAI, SoftBank Group, and Oracle as part of the Stargate initiative.
The funding is the largest crypto company investment to date and the first institutional investment in the leading crypto exchange, according to Binance.
The investment, made in stablecoin, gives MGX a minority stake in Binance as part of its strategy to support blockchain technology development. Binance currently employs about 1,000 of its 5,000 global workforce in the UAE.
Discussing the move, Ahmed Yahia, Managing Director & CEO of MGX, said that the investment demonstrates MGX’s commitment to actively supporting the development and implementation of blockchain technology. The firm believes that blockchain technology has the power to fundamentally change digital finance.
“As institutional adoption accelerates, the need for secure, compliant, and scalable blockchain infrastructure and solutions has never been greater,” said Yahia. “Binance has long been a driving force in cryptocurrency innovation, from exchange technology and tokenization to staking and payments.”
According to Binance CEO Richard Teng, MGX’s $2 billion investment is “a significant milestone for the crypto industry and for Binance.”
“Our goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection. Binance remains committed to working with regulators worldwide to establish transparent, responsible, and forward-thinking policies for the crypto industry,” Teng said.
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